what happens when your customers don't pay?

There can be several reasons why a customer does not pay. A Receivables Insurance policy insures against the fact that your buyer is declared bankrupt or has agreed to a bankruptcy protection arrangement. Your customer can just be slow in paying. Efficient collection can help out in this case. In some cases your customer has paid, but it is not possible for the money to reach your bank. Or your customer has never received the goods you have sent, and does not pay for that reason. You can insure yourself against these risks by including so-called political risk cover.

Receivables Insurance Association of Canada for trade credit and political
risk

The Receivables Insurance Association of Canada (RIAC) promotes the business opportunity for receivables insurance – also known as trade credit insurance – to Canadian insurance brokers, the banking industry and businesses engaged in domestic trade and exporting that is subject to trade and/or political risk.

RIAC also works to advance industry innovation and product integrity, solve any business problems related to government legislation, and represent the interests of its members by facilitating an open exchange of information and ideas.